Yahoo! News: Business

Wall Street futures shoot up (Reuters)

A trader watches a trade monitor on the floor of the New York Stock Exchange, November 20, 2008. (Shannon Stapleton/Reuters)Reuters - Stock futures pointed to a rebound on Friday after sharp losses in the previous session. Dow Jones futures were up 3.9 percent, S&P 500 futures were up 4.5 percent and Nasdaq futures were up 3.9 percent at 5:03 a.m. EST.


Democrats demand Big 3 offer survival plan (Reuters)

Leaders of the U.S. automotive industry testify at a hearing held by the House Financial Services Committee on Capitol Hill, November 19, 2008. From left are General Motors CEO Richard Wagoner, Chrysler Chairman and CEO Robert Nardelli and Ford president and CEO Alan Mulally. (Kevin Lamarque/Reuters)Reuters - Democratic congressional leaders, seeking to salvage a bailout of the Big Three automakers, demanded executives provide a business survival plan in exchange for their support of up to $25 billion in loans.


Citigroup eyes options, including merger (Reuters)

Pedestrians walk past a Citibank branch in Singapore November 18, 2008. (Vivek Prakash/Reuters)Reuters - Citigroup Inc lost more than one-quarter of its market value on growing worries over whether it has enough capital to withstand billions of dollars of potential losses and despite new support from its largest individual investor.


Fannie Mae, Freddie Mac suspend some foreclosures (Reuters)

The headquarters of mortgage lender Freddie Mac is seen in Mclean, Virginia, near Washington in this September 8, 2008 file photo. (Jason Reed/Reuters)Reuters - Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.


Honda to cut more production (Reuters)

A man walks past Honda Motor Co. cars at a showroom in Tokyo January 30, 2008. (Michael Caronna/Reuters)Reuters - Honda Motor Co (7267.T) said it would build fewer cars in Japan, Europe and North America to reflect an increasingly bleak outlook for sales as the global economic crisis discourages big-ticket purchases.


Philippine stock index tumbles 4.1 percent (AP) AP - Philippine shares tumbled for the second straight session Friday as a broad sell-off by foreign investors dragged down local heavyweights.

Report: Ford Germany needs no state bailout money (AP) AP - Bernhard Mattes, chief of Ford Motor Co's. German unit, said that while the company can survive without a bailout from the German state, it hopes the European Union will help the ailing auto industry with a loan package.

British retailers discount to lure shoppers (AP)

A promoter hands out flyers on a central London shopping street Thursday, Nov. 20, 2008 as the Marks and Spencers chain runs a 20 per cent off sale. Retail sales figures released for the UK show figures down only 0.1% in October despite mounting evidence from retailers such as Woolworths PLC and Marks & Spencer PLC, that business conditions are extremely tough. (AP Photo/Alastair Grant)AP - Britain's top retailers are hoping unusual pre-Christmas discounts can convince consumers to open their wallets during a holiday season that coincides with a looming recession.